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Nonprofiteer
← COLONY RETIREMENT HOMES III INC

Form 990 for tax year 2023

Filed by COLONY RETIREMENT HOMES III INC.

Totals

Total revenue
$2,860,966
Total expenses
$2,903,460
Contributions and grants received
$0
Grants paid
$133,092
Program service revenue
$2,795,604
Investment income
$16,781
Other revenue
$48,581
Total assets, end of year
$6,142,272
Total liabilities, end of year
$9,478,289
Net assets or fund balances, end of year
-$3,336,017
Program services expenses (Part IX)
$2,270,078
Management and general expenses
$633,382
Fundraising expenses
$0
Program service expenses (Part III)
$2,270,078

Program services were 78.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: RENT REVENUE

    total $2,197,129 · related or exempt $2,197,129

  • 2b · Program service revenue: PROGRAM FEES

    total $598,475 · related or exempt $598,475

  • 3 · Investment income

    total $16,781 · excluded $16,781

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $48,581 · related or exempt $48,581

  • 11e · Other revenue, total

    $48,581

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $133,092 · program services $133,092

  • 5 · Compensation of officers, directors and key employees

    total $58,906 · management and general $58,906

  • 7 · Other salaries and wages

    total $457,399 · program services $240,135 · management and general $217,264

  • 8 · Pension plan contributions

    total $38,845 · program services $19,560 · management and general $19,285

  • 9 · Other employee benefits

    total $206,201 · program services $99,651 · management and general $106,550

  • 10 · Payroll taxes

    total $93,135 · program services $43,958 · management and general $49,177

  • 11b · Fees: legal

    total $14,400 · management and general $14,400

  • 11c · Fees: accounting

    total $22,836 · management and general $22,836

  • 12 · Advertising and promotion

    total $13,089 · management and general $13,089

  • 13 · Office expenses

    total $58,430 · management and general $58,430

  • 16 · Occupancy

    total $542,568 · program services $542,568

  • 20 · Interest

    total $283,332 · program services $283,332

  • 22 · Depreciation, depletion and amortization

    total $209,952 · program services $209,952

  • 23 · Insurance

    total $75,492 · program services $75,492

  • 24a · Other expenses: SERVICE COORDINATORS

    total $622,338 · program services $622,338

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $73,181 · management and general $73,181

  • 24c · Other expenses: BAD DEBTS

    total $264 · management and general $264

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $248,139 · end of year $273,202

  • 2 · Savings and temporary cash investments

    beginning of year $3,138,472 · end of year $3,158,325

  • 4 · Accounts receivable

    beginning of year $422,913 · end of year $236,559

  • 8 · Inventories for sale or use

    beginning of year $4,786 · end of year $6,127

  • 9 · Prepaid expenses and deferred charges

    beginning of year $45,880 · end of year $122,728

  • 10a · Land, buildings and equipment: cost or other basis

    $9,958,835

  • 10b · Land, buildings and equipment: accumulated depreciation

    $7,613,504

  • 10c · Land, buildings and equipment, net

    beginning of year $2,427,809 · end of year $2,345,331

  • 17 · Accounts payable and accrued expenses

    beginning of year $112,590 · end of year $172,568

  • 23 · Secured mortgages and notes payable

    beginning of year $9,468,932 · end of year $9,305,721

  • 27 · Net assets without donor restrictions

    beginning of year -$3,293,523 · end of year -$3,336,017

Mission and programs · 2023

Mission

COLONY RETIREMENT HOMES III IS DEDICATED TO PROVIDING AFFORDABLE HOUSING FOR SENIORS OF LOW AND MODERATE INCOME.

Activities or mission (Part I)

DEDICATED TO PROVIDING AFFORDABLE HOUSING FOR SENIORS OF LOW AND MODERATE INCOME.

  • DEVELOP AND PROVIDE SUBSIDIZED HOUSING FOR LOW-INCOME ELDERLY.

    Expenses $2,270,078 · Grants $133,092 · Revenue $2,844,185

As filed on the 2023 return.

Listed in Part VII

  • Michael Mills

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.25 + 0.75 related

  • Jane Wangari

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.25 + 0.75 related

  • Brad Campbell

    TREASURER

    Total calculated
    $0
    Hours/week
    0.25 + 0.75 related

  • Reverend Margaret Gifford

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25 + 0.75 related

  • Reverend Jane Willan

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25 + 0.75 related

  • Andie Byrd

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25 + 0.75 related

  • Constance Nichols

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25 + 0.75 related

  • Dianne Mann

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25 + 0.75 related

  • Chris Evans

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25 + 0.75 related

  • Bob Woodland

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25 + 0.75 related

  • Nina Dow

    MEMBER

    Total calculated
    $0
    Hours/week
    0.25 + 0.75 related

  • Marianne Delorey

    EXECUTIVE DIRECTOR

    Total calculated
    $173,094
    From this org
    $0
    From related orgs
    $150,619
    Other
    $22,475
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $150,619 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,150 related
    Nontaxable benefits
    $0 + $12,325 related
    Filer's total
    $0 + $173,094 related

  • Hua Xu

    CONTROLLER

    Total calculated
    $121,433
    From this org
    $0
    From related orgs
    $106,269
    Other
    $15,164
    Hours/week
    9.38 + 28.13 related

  • Timothy O'Brien

    SITE SUPERINTENDENT

    Total calculated
    $122,584
    From this org
    $0
    From related orgs
    $102,490
    Other
    $20,094
    Hours/week
    10 + 30 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
26 June 2024
IRS schema version
2023v5.1
Source object
202441799349301604

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